Apple's new chief executive has been awarded a million restricted shares of Apple that vest over the next decade, ensuring his continued employment through 2021.

At today's closing stock valuation, one million shares of Apple would be worth $383.6 million.

However, the restricted stock units Apple's board voted to awarded Cook won't begin to vest until August 2016, when half of the award will convert into shares or a cash equivalent, depending upon how the award is set up.

The second half of Cook's million restricted stock units vest in August 2021. Both vesting dates are contingent upon his "continued employment with Apple through each such date," according to Apple's 8K filing with the SEC.

A variety of analysts have already set Apple's stock targets as high as $500, and in ten years, Apple's stock price could easily make Cook's award worth considerably more than half a billion dollars.

You need to ban AppleLover2. this guy's a dick for posting that photo.

Please don't discuss in threads such as these whether you think other posters should be banned or not; it is off-topic. Either start a thread in the feedback forum or send a PM. On this particular occasion please don't send a PM to me because I have no intention of banning him (over this) and you won't change my mind. However, I'm not the only mod on AI...

Here's another typo. He fixed the one already pointed out above, but missed this one. Even his short posts have multiple typos. Seriously, do these writers just post whatever they want with no supervision?

Here's another typo. He fixed the one already pointed out above, but missed this one. Even his short posts have multiple typos. Seriously, do these writers just post whatever they want with no supervision?

They are probably using an iPad or Lion/Safari with autoIncorrect turned on!

"Swift generally gets you to the right way much quicker." - auxio -

"The perfect [birth]day -- A little playtime, a good poop, and a long nap." - Tomato Greeting Cards -

Didn't Amelio also get a huge golden parachute when he left Apple? Does Cook have a similar arrangement?

I would suspect not... Amelio was recruited/induced to take over a struggling company... a golden parachute, then, was based on risk/reward.

Cook is being promoted to run a company at the top if its game (much of which is due to his contributions). Today's award is an initial inducement/vote of confidence. There is absolutely no reason that the board could not offer additional rewards/inducements as warranted,

In the early days of Apple, Jobs was known for handing grey envelopes (containing stock options) to key employees,

"Swift generally gets you to the right way much quicker." - auxio -

"The perfect [birth]day -- A little playtime, a good poop, and a long nap." - Tomato Greeting Cards -

Didn't Amelio also get a huge golden parachute when he left Apple? Does Cook have a similar arrangement?

Actually, Amelio was given options to buy 1 million shares at $26.25 or $6.56 today adjusted for splits... but those options turned out worthless at that time. His salary was based on performance but was guaranteed at $2.5 million. His severance was $6.7 million +.

True... the $80 million or so in stock he's already cashed in just doesn't buy what it used to.

The CEO job of a major corporation has certain perqs and certain reqs -- Tim needs the monetary where-with-all to deal with heads of corporations and countries from a position of strength and credibility.

Steve could afford, and take advantage of, a salary of $1 per year. Tim cannot -- this is a different Apple, now. Tim needs to have the status of a major player -- as well as be one.

As a shareholder, I would like to see Tim earn multiple $ millions per year.

FWIW, stock sales are often used to diversify, pay/offset taxes, maximize an option, etc.

"Swift generally gets you to the right way much quicker." - auxio -

"The perfect [birth]day -- A little playtime, a good poop, and a long nap." - Tomato Greeting Cards -

The CEO job of a major corporation has certain perqs and certain reqs -- Tim needs the monetary where-with-all to deal with heads of corporations and countries from a position of strength and credibility.

Steve could afford, and take advantage of, a salary of $1 per year. Tim cannot -- this is a different Apple, now. Tim needs to have the status of a major player -- as well as be one.

As a shareholder, I would like to see Tim earn multiple $ millions per year.

FWIW, stock sales are often used to diversify, pay/offset taxes, maximize an option, etc.

What are you talking about?!

Tim Cook is extraordinarily wealthy!

Any yearly salary he earns will be dwarfed by the millions he already has in the bank and will make with his options.

I expect that he will earn a genuine salary - although the $1 thing would be nice to preserve.

However, any salary Tim earns won't increase his "position of strength and credibility" among other chief executives.

Tim is CEO of Apple. CEO of the largest corporation in the world on certain days. Whether he makes $1/year or $1million/year, his status is equally formidable (and his salary is equally negligible).

If you're worried he's not going to be able to afford proper clothes, you can rest easy. Besides, he could always wear jeans and black t-shirts while he saves up for a suit.

It often becomes a pissing contest among the lower echelon -- he's only worth $1.4 momllion and I'm worth $1.5 miiilon...

When Cook enters a room... He needs to shut that down -- by physical presence (and net worth, doesn't hurt)

Why would you want to dick around proving your bona fides when you are about changing the world?

In a room full of millionaires, I always win the pissing contest by earning 0 USD per year (SJ is a big earner compared to me). Just give them a sorry look and use this killing phrase 'Oh, you still need to earn! I don't earn, I own'.

In a room full of millionaires, I always win the pissing contest by earning 0 USD per year (SJ is a big earner compared to me). Just give them a sorry look and use this killing phrase 'Oh, you still need to earn! I don't earn, I own'.

LOL. Exactly. At some point you have to graduate from being a "wage slave" and do what you do for the love of it. The scenario Dick describes sounds like a bunch of frat-boy wanna-bes stroking each others' egos. But I also hear/read the type of people who become that wealthy are highly driven, borderline (or over the border) sociopaths - so I wouldn't be surprised that they do things I don't understand.

Which has more bragging rights? "I bought a new villa in Greece" or "I introduced a new product that sold 1 million units in the first week"?

Here's another typo. He fixed the one already pointed out above, but missed this one. Even his short posts have multiple typos. Seriously, do these writers just post whatever they want with no supervision?

Lion needs an option to return to use Snow Leopard style spelling correction or Lion's as the user prefers. Anyone typing quickly simply accepts the alternative guesses Lion throws in by default and the psychology of perception kicks in, you see what you think you see often times not what is actually there when proofing in a hurry.

Apple rarely make mistakes in the UI but Lion's auto correct is definitely not good as is IMHO and urgently needs some user options.

I'm not saying remove it, I'm suggesting a) give the user an option between SL and Lion style on a per app basis and b) If using Lion's, user checks in prefs if the suggestion is accepted or rejected if you simply keep typing.

From Apple ][ - to new Mac Pro I've owned them all.Long on AAPL so biased"Google doesn't sell you anything, Google just sells you!"

At today's closing stock valuation, one million shares of Apple would be worth $383.6 million.

Speaking of this AAPL closed ahead of XOM once again. I notice that the usual tech sites and posters seem to be ignoring their predictions of doom for AAPL once Jobs stepped aside. It went the other way in fact. Investors know that Tim Cook has been the power behind the throne for a couple of years now and they are confident in his leadership. Jobs sure is.

It often becomes a pissing contest among the lower echelon -- he's only worth $1.4 momllion and I'm worth $1.5 miiilon...

When Cook enters a room... He needs to shut that down -- by physical presence (and net worth, doesn't hurt)

Why would you want to dick around proving your bona fides when you are about changing the world?

There's a big difference between being a millionaire (in terms of assets) and earning a $ million a year. Big difference. If you're a millionaire at 50, big deal. If you retire and you expect to live until 80, that leaves you with a big $33,000 a year. If you do it at 60 and expect to live another 20 years, that's only $50K per year. And if that's money invested in a pre-tax 401K or the like, you'll have to pay taxes as you withdraw the money.

If however, you EARN $1 million or more a year, that's real money. In 2009, almost 237,000 U.S. taxpayers earned more than $1 million. 8274 earned more than $10 million. 1470 of those earning over $1 million paid no Federal taxes, although that's usually because they donated a lot of money to charity. In 2007, the top 1% of earners earned 23% of total U.S. earnings. Back in the 1970s, ,the top 1% earned only 8 to 9% of total U.S. earnings.

In 2009, 11% of U.S. households had a net worth of over $500K
6.87% had a net worth over $1 million
0.86% (980,000) had a net worth over $5 million.

Besides, I like being in a room with millionaires. Being in that room raises the average net worth of each person in the room. That makes me richer, right?

There's a big difference between being a millionaire (in terms of assets) and earning a $ million a year. Big difference. If you're a millionaire at 50, big deal. If you retire and you expect to live until 80, that leaves you with a big $33,000 a year. If you do it at 60 and expect to live another 20 years, that's only $50K per year. And if that's money invested in a pre-tax 401K or the like, you'll have to pay taxes as you withdraw the money.

If however, you EARN $1 million or more a year, that's real money. In 2009, almost 237,000 U.S. taxpayers earned more than $1 million. 8274 earned more than $10 million. 1470 of those earning over $1 million paid no Federal taxes, although that's usually because they donated a lot of money to charity. In 2007, the top 1% of earners earned 23% of total U.S. earnings. Back in the 1970s, ,the top 1% earned only 8 to 9% of total U.S. earnings.

In 2009, 11% of U.S. households had a net worth of over $500K
6.87% had a net worth over $1 million
0.86% (980,000) had a net worth over $5 million.

Besides, I like being in a room with millionaires. Being in that room raises the average net worth of each person in the room. That makes me richer, right?

Ha! I guess, with a small [enough] room and a big [enough] pissing contest -- a rising tide lifts all boats

"Swift generally gets you to the right way much quicker." - auxio -

"The perfect [birth]day -- A little playtime, a good poop, and a long nap." - Tomato Greeting Cards -